Chris Dreyer is the CEO of Rankings.io, a law firm SEO agency; a 5x member of the Inc. 5000; and the author of Niching Up: The Narrower the Market, the Bigger the Prize.

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Guest Resource

Chris’ Book, Niching Up – The Narrower the Market, the Bigger the Prize!

3 Value Bombs

1) There’s so much opportunity in niching. There’s premium pricing. You get better margins from eliminating waste. You can maximize your advertising. You’re not throwing paint against the wall and hoping that something sticks.

2) Niching up is taking an industry and going narrower, going deeper.

3) One of the most difficult challenges businesses have today is how they’re going to be different, how they’re going to create a unique selling proposition.

Sponsors

Podopolo: The best podcast listening app in the world is here! Visit Podopolo.com, download the app for free, mention John Lee Dumas (my Podopolo username) when you sign up, and start listening now!

HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!

RocketMoney: Stop throwing your money away. Cancel unwanted subscriptions – and manage your expenses the easy way – by going to RocketMoney.com/fire!

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How to Niche Up with Chris Dreyer

[1:04] – Chris shares something that he believes about becoming successful that most people disagree with.

• Narrowing your TAM, (your total addressable market), can actually make you more money.

[1:47] – What is niching up?

• People have this scarcity mindset. They think niching is restrictive. They think they’re going to lose all these opportunities.
• You’re already losing opportunities trying to be something for everyone. Niching up is changing the narrative. It’s changing it to a place of abundance.

[2:46] – Examples of what niching up looks like.

• Niching up is taking an industry and going narrower, going deeper.
• If your life is on the line, ask yourself who do you want? Do you want the person that’s a specialist or you just want the generalist that does everything?

[4:55] – The pros of niching up.

• First is awareness. You can take any industry and continue to go deeper and deeper and deeper.
• Expertise is a big pro.
• Another pro is premium pricing. Because you understand your value, you can charge more because you’re worth it.
• Relationship equity is one of the pros. It takes a lot of time to develop relationships to continue to move up the ladder.
• Referrals is also a pro. Just because you’re saying no to an opportunity doesn’t mean it’s not right for someone else. And if you can pass on that opportunity, it allows you to be set up for reciprocity.
• One of the most difficult challenges businesses have today is how they’re going to be different, how they’re going to create a unique selling proposition.

[10:07] – A timeout to thank our sponsors!

• RocketMoney: Stop throwing your money away. Cancel unwanted subscriptions – and manage your expenses the easy way – by going to RocketMoney.com/fire!
• Podopolo: The best podcast listening app in the world is here! Visit Podopolo.com, download the app for free, mention John Lee Dumas (my Podopolo username) when you sign up, and start listening now!
• HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!

[13:41] – The cons of niching.

• You will have a smaller market to sell to.
• There are industry risks.
• It increases effort and sacrifice

[15:48] – What’s the best time to niche?

• It comes down to purpose, passion and profit.

[17:24] – Chris’ key take away and call to action.

• There’s so much opportunity in niching. You’re not throwing paint against the wall and hoping that something sticks.
• Chris’ Book, Niching Up – The Narrower the Market, the Bigger the Prize!

[18:51] – Thank you to our Sponsors!

• Podopolo: The best podcast listening app in the world is here! Visit Podopolo.com, download the app for free, mention John Lee Dumas (my Podopolo username) when you sign up, and start listening now!
• HubSpot: Learn how HubSpot can help your business grow better and get a special offer of 20% off on eligible plans at HubSpot.com/eof!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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